Cumberland, the Chicago-based unit of DRW Holdings LLC, reported a sharp, sudden spike in large-scale () transactions the evening of Monday, April 1. The company revealed the data in a on April 4.
The series of thirteen orders that the desk tracked all exceeded 1,000 (about at press time). Cumberland — which has been operating an over-the-counter (OTC) crypto desk since — noted in the tweet that:
“The post-trade analysis of Monday evening’s price action revealed a series of large bids (>1,000 per order) within a 1 hour span, which appear to be actual buyers vs. forced liquidations.”
Cumberland April 1-2. Source: , April 4
In a follow-up to the tweet, Cumberland’s Global Head of , Bobby Cho, that the data represented “executed, economically binding trades.”
In a separate update on Twitter earlier this week, Cumberland that had “moved more than 10% for the first time in 8 weeks,” stating:
“We are watching for $5,000 (the next even number) and $5,500-$5,800 (strong resistance points which have previously caused several uptrend and downtrend selloffs to and from $20,000).”
markets have this week their first bullish uptick of 2019, with beginning a sharp overnight April 1-April 2, gaining 14 percent in about an hour to push over $4,500 for the first time this year. The coin then $5,000 mark on April 3.
Trends data that searches for “” almost tripled in response to this week’s positive price action.
To press time, is at $4,964, down 1.34% on the day.
Published at Fri, 05 Apr 2019 09:20:15 +0000
